Exploring the Internal and External Venturing of Large R&D-intensive Firms

Williams, Christopher and Lee, Soo Hee (2009) Exploring the Internal and External Venturing of Large R&D-intensive Firms. R&D Management, 39 (3). pp. 231-246. ISSN 0033-6807 . (The full text of this publication is not currently available from this repository. You may be able to access a copy if URLs are provided)

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We explore the realized strategies of large R&D-intensive firms through a venturing lens, focusing on two industries: pharmaceuticals and high-technology equipment manufacturing. Specifically, we examine changes in strategy over time along two critical dimensions: (1) focus of venturing, i.e., internally vs externally oriented, and (2) learning orientation i.e., explorative vs exploitative. Our empirical analysis is based on news stories relating to six large, R&D-intensive firms over a 6-year period. The findings suggest the following: (1) exploration is more prevalent than exploitation in both pharmaceuticals and high-technology equipment manufacturing, but pharmaceuticals have a greater preference for internal venturing than high-technology equipment manufacturing; (2) three firm-level venturing strategy types can be discerned, which are independent of the specific industry; and (3) change in realized strategy is a dynamic capability facilitated by firm-level factors. These results, albeit explorative, emphasize venturing in R&D industries as a dynamic capability that is influenced by firm-level characteristics rather than industry membership. © 2009 Blackwell Publishing Ltd.

Item Type: Article
Additional information: Unmapped bibliographic data: PY - 2009/// [EPrints field already has value set] AD - Strategy and Marketing Section, Amsterdam Business School, Universiteit Van Amsterdam, Plantage Muidergracht 12, 1018 TV Amsterdam, Netherlands [Field not mapped to EPrints] AD - Department of Management, Birkbeck College, University of London, Malet Street, London WC1E 7HX, United Kingdom [Field not mapped to EPrints] JA - R D Manage. [Field not mapped to EPrints]
Subjects: H Social Sciences
H Social Sciences > H Social Sciences (General)
Divisions: Faculties > Social Sciences > Kent Business School
Faculties > Social Sciences > Kent Business School > Industrial Relations/HRM
Depositing User: Cathy Norman
Date Deposited: 24 Sep 2012 09:50
Last Modified: 07 May 2014 13:58
Resource URI: https://kar.kent.ac.uk/id/eprint/30866 (The current URI for this page, for reference purposes)
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